Its not recommended to actually just store your tokens on exchange and left but its always your choice. I myself is doing this because I don't want to install NEO wallet. I end up sending them all to Binance to also receive GAS while I also store my NEO there. I however kept trading there thru USDT and buy every dip of some tokens.
Binance is one of those exchange that distributed GAS too which is good for storing NEO there.
Topic: What would be the policy of exchanges if I hold coins for long term investment (Read 189 times)
March 13, 2018, 07:50:12 AM
March 13, 2018, 07:23:03 AM
Why do you want to keep them on an exchange perse? Just so you can avoid accessing them in the meantime?
If that's your intent, it might be a good idea to look into making a time-locked transaction, your coins won't be spendable until a certain date or block height that you've set yourself.
I recently asked on this forum how to do this and someone gave me an easy tutorial to follow.
Here's a the topic if you're interested:
https://bitcointalksearch.org/topic/m.24710770
If that's your intent, it might be a good idea to look into making a time-locked transaction, your coins won't be spendable until a certain date or block height that you've set yourself.
I recently asked on this forum how to do this and someone gave me an easy tutorial to follow.
Here's a the topic if you're interested:
https://bitcointalksearch.org/topic/m.24710770
March 13, 2018, 07:19:18 AM
i advice you to use wallets better than exchanges , as exchanges may be has any changes or security polices at the future
March 13, 2018, 06:21:57 AM
First of all if you want to hold any coin for long term then don't be a noob and put it on some secured wallet. Never ever store your coin on an exchange.
March 13, 2018, 05:38:42 AM
Short term counts as capital gains and the tax can range from 18-37% where I live. It's about 20% lower if long term capital gains which is two years and on I think. Maybe slightly less
March 12, 2018, 12:52:00 AM
Exchanges like coinbase are famous for freezing the funds of clients if they doubt that clients are indulged in any malpractices. Having your coins in a exchange could be safe only when you don't have a huge amount in them. If the coins you are holding are huge, then you are in a greater risk of losing them.
Moreover exchanges are exposed to hacks most of the times and you may lose your precious coins which you have earned through the years in a go. If you are not in hold of your private keys, you are the one who doesn't hold your coins. Many ordinary investors choose some exchanges to keep their savings, but it is really a dangerous way of holding your coins. Exchanges acts as real time banks, which means you are safe unless the bank is robbed and your money is lost.
Try securing your coins in a hardware wallet or paper wallet and when you feel the right time to trade, transfer them to exchanges.
Moreover exchanges are exposed to hacks most of the times and you may lose your precious coins which you have earned through the years in a go. If you are not in hold of your private keys, you are the one who doesn't hold your coins. Many ordinary investors choose some exchanges to keep their savings, but it is really a dangerous way of holding your coins. Exchanges acts as real time banks, which means you are safe unless the bank is robbed and your money is lost.
Try securing your coins in a hardware wallet or paper wallet and when you feel the right time to trade, transfer them to exchanges.
March 11, 2018, 07:57:36 PM
My purpose is holding some coins on a exchange for a long time like one year. But I don't want to log in and make any trade in the meantime. So my question is what would be the policy of exchanges if I do this. Will they freeze my account because they will not make any profit for a long time. Thanks in advance.
No, they won't freeze your account but you are exposing your coins to a big riskthe exchange could have all sort of problems within a period of that 1 year
if they lost significant amount due to hacks, wallet failures or other things,
they would simply just say sorry, not reimburse your lost and run away
March 11, 2018, 05:16:00 PM
Never heard of that kind of situation. The exchange won't blok your account, as you have positive balance on your account.
BTW. do you know it's better to send your funds to private wallet? It's more secure as exchange may be hacked.
BTW. do you know it's better to send your funds to private wallet? It's more secure as exchange may be hacked.
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March 11, 2018, 05:09:04 PM
Crypto exchange are not like social community site where you have a prize to pay for been inactive and no true cryptoner will advice to keep your coin on exchange site because saving your coins on an exchange for a long period of time is the same thing as loosing your coins because you have no control over it since you're not private keys holder.
March 11, 2018, 03:32:20 PM
My purpose is holding some coins on a exchange for a long time like one year. But I don't want to log in and make any trade in the meantime. So my question is what would be the policy of exchanges if I do this. Will they freeze my account because they will not make any profit for a long time. Thanks in advance.
Every exchanges reserve their own policy to have the fund on their exchange wallet. I advice you to not hodl the fund on any exchange wallet. Not at all safe to have the fund on there. More than that it is not private key secured.
If you are not active and all your account will be locked or freezed.
There are some exchanges have the option to hodl the fund on USD or EURO. You can keep the fund on fiat rate it will be stable for long time. If you are looking for profit you have to hodl the fund as the crypto currencies only.
March 11, 2018, 03:08:16 PM
Think you'll find that any user here would advise you against storing on exchanges. There's just been too many instances of exchanges holding coins against the will of depositors. Could be any reason, any excuse, and you'll be completely powerless. Even the reputations and influence of big crypto names didn't help in the cases of Mt Gox, and more recently Coinbase. They levelled threats of legal action, even personal injury, and still couldn't get their coins back.
One year with no intention to trade? It takes you a few minutes at most to withdraw and store them securely in your own wallet.
That's why I'm really interested in the Japanese exchanges that were shut down. They were forced to take mandatory insurance for deposits before they got their licences... I don't know any other case where insurance has been successfully paid out for exchange losses.
One year with no intention to trade? It takes you a few minutes at most to withdraw and store them securely in your own wallet.
So if you're going for an exchange, try and find one that's insured in your country, or try and find out about cold storage.
That's why I'm really interested in the Japanese exchanges that were shut down. They were forced to take mandatory insurance for deposits before they got their licences... I don't know any other case where insurance has been successfully paid out for exchange losses.
March 11, 2018, 01:37:28 PM
Most exchanges will not block your account for inactivity. However, crypto exchanges are notoriously unreliable for keeping your funds safe.
Users on Mt. Gox and Cryptsy lost huge amounts of money, and there have been many complaints about still functioning crypto exchanges. They can also sometimes get in trouble with law enforcement (such as BTC-e).
So if you're going for an exchange, try and find one that's insured in your country, or try and find out about cold storage.
Users on Mt. Gox and Cryptsy lost huge amounts of money, and there have been many complaints about still functioning crypto exchanges. They can also sometimes get in trouble with law enforcement (such as BTC-e).
So if you're going for an exchange, try and find one that's insured in your country, or try and find out about cold storage.
March 11, 2018, 01:34:39 PM
You shouldn't trust any website with your money. Simply install an open source software wallet, such as Electrum or Bitcoin Core and send your bitcoins there.
No matter what happens, you will always have access to your bitcoins that way.
No matter what happens, you will always have access to your bitcoins that way.
March 11, 2018, 01:24:30 PM
My purpose is holding some coins on a exchange for a long time like one year. But I don't want to log in and make any trade in the meantime. So my question is what would be the policy of exchanges if I do this. Will they freeze my account because they will not make any profit for a long time. Thanks in advance.
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